Australian solar power technology outfit Vast Solar is heading for a listing on the New York Stock Exchange after inking a deal with so-called blank cheque company Nabors Energy Transition Corp that values the combined group at up to $US586 million ($840 million).

The proposed deal, announced overnight Australian time, is set to provide funds of up to $US351 million to Vast Solar, effectively locking in the equity financing needed for a $203 million project using the technology to be built in South Australia.